
More recent developments

Bank confirmation systems to be localized
What happened: The Ministry of Finance (MoF) is launching a new push to upgrade national financial auditing tools, with the release of a new policy on digitizing the bank confirmation system. ICYDK: "Bank confirmation" is an evidence collection procedure used… Read More »

MIIT moves to boost the sci-tech services industry
What happened: On May 19, the industrial ministry (MIIT) and eight other bodies issued high-level policy guidance on accelerating the development of the science and technology services industry. ICYDK: The sci-tech services industry comprises a diverse collection of businesses, including:… Read More »

China warns US that Huawei chip controls could derail trade talks
China’s Ministry of Commerce (MofCom) just warned the US not to screw up ongoing trade talks. Some context: On May 13, the US Bureau of Industry and Security (BIS) issued non-binding guidance stating that using Huawei Ascend chips anywhere in… Read More »